Posted on 06/10/2016 5:05:50 PM PDT by Hojczyk
“Overthrow the establishment. Now's the time,” said the CNBC senior contributor who also hosts a syndicated radio-talk show. "Overthrow the establishment," urged Kudlow, who was a former economic adviser to President Ronald Reagan.
“We need a different model. In other words, zero interest rates, or negative interest rates, and tons and tons of government spending for all these G-7 countries have not worked,” he said.
“We have global stagnation, a virtual global recession. And we have virtually no inflation,” he said “Something's got to change here,” he said.
He offered his own solution to right the sinking U.S. economic ship.
“I recommend an across-the-board slashing of corporate tax rates for large and small businesses in the U.S. I would start right there to reignite growth and then give the Fed a chance to normalize their interest rates," he said.
"I do not approve of what the Fed or these other central banks are doing. I have never favored it, QE, negative rates even worse. The trick is how to get out of this with minimal damage. Let's cut the corporate tax, that will pick up business investment and it will pick up productivity,” he said.
"I think one of the candidates, Donald Trump, has a very significant business tax cut for large and small companies. And I favor that. He also is a de-regulator, and I favor that,” he said.
(Excerpt) Read more at newsmax.com ...
Not only overthrow it, but burn it to the ground, drive a stake through it’s heart and boil it in acid.
Cutting taxes without shrinking government just means more deficits while hastening the impending debt singularity.
“We have global stagnation, a virtual global recession. And we have virtually no inflation,” he said “Something’s got to change here,” he said.
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Virtually no inflation!!!
I stopped right there. Just couldn’t get past that one.
No inflation? What is he talking about? Does he not shop for food?
We’ve got to reduce the parasite load. Spending and regulation must be cut. There’s too much drag for economic growth.
Well said, using a flight analogy.
That’s the same argument we got before the Reagan Tax and Kennedy Tax cuts. As it turns out, lower taxes actually increased receipts. It the Laffer Curve in action and it’s been proven not only in the US, but in Britain and India as well. I would couple the tax cuts with Warren Buffet’s idea: Any congressman who votes for a budget that leads to an increase in the deficit of more than 3% cannot stand for reelection.
The legal inflation numbers and the legal unemployment rate are all set or fixed by the government.
Obviously you and I see things differently but tell that to the banks or Social Security.
SS
Get rid of the laws that make Gov employee's untouchable. It will thin the herd and what is left will 30% more efficient and 100% more accountable.
We’ve got to reduce the parasite load. Spending and regulation must be cut. There’s too much drag for economic growth.
That is what this has always been about.
Reagan said eliminate the corporate tax. Fine. What is the cost of the ESSENTIALS in government? Defense. Make the corporations pay for it. The other crap 1 flat tax for everyone. Let them fight over the rate every year and figure out a minimum income. Divvy up the flat tax and get rid of some departments. Solved.
That’s funny.
He IS the establishment.
Or at least part of it.
Maybe should have listened to people a little closer back in 2008 and 2012.
He is quite thin.
Iceland!!!
Solved? Maybe. The bigger problem is getting a group of sufficient size to agree.
>Reagan said eliminate the corporate tax. Fine. What is the cost of the ESSENTIALS in government? Defense. Make the corporations pay for it. The other crap 1 flat tax for everyone. Let them fight over the rate every year and figure out a minimum income. Divvy up the flat tax and get rid of some departments. Solved.
Solved? IMO, hardly.
Make each State responsible for the % of the budget.
Flat tax = income tax = slavery tax. See above. At worst, nat. sales tax upon all initial purchases. No exemptions, no exclusions, no carve-outs. EVERYONE uses services (be it defense+), ALL pay for the ‘privilege’.
Any/all rules/regulations/etc. w/ the force of Law MUST be debated and passed by Congress. We the People did NOT give them permission to pass-off this ability. “I didn’t know”, “I tried to help/stop” will become moot.
Remove the illegality of exemption of Law. Equal under. Let Congress/D.C. abide by the same rules they set.
We have offshored our wealth creation engine our once vaunted industrial base. The only way to fix this is with a 20% import tariff. That would cause inflation but would balance the budget and allow the Feds to raise interest rates. The best part is that our “captains of industry” would think twice about offshoring and maybe a lot would repatriate.
Being protected from liability is part of it, but there is also the union angle that makes it tough to fire anyone and create huge unfunded pension liabilities down the road.
I think a partial solution would be to shut down existing offices and open new smaller offices in small rural towns. Existing employees will need to be offered transfers to the new location, but many will not want to move from their big-city-cultural-mecca backgrounds. It may be the only way to downsize government employees without lawsuits for wrongful termination at every step.
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